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metals & mining: news
Summary Professionals Matters News
Media Mention

Diamond dealer sues two Belgian banks
December 23, 2011 -- Financial Times
Our RICO complaint -- on behalf of our client, the diamond dealer Lazare Kaplan (LKI), against two Belgian banks -- is noted here. LKI alleges that the banks stole $135 million worth of diamonds by passing the money through a number of shell companies overseas. The article quotes heavily from our complaint and notes that Lazare Kaplan seeks $500 million in lost proceeds and consequential damages. Under our complaint, which alleges racketeering and money laundering, a court could treble the damages.
Media Mention

Insurers Settle Lazare Diamond Coverage Row For $32M
July 6, 2011 -- Law360
Our representation of Lazare Kaplan International is noted in this article, which reports LKI's settlement with American and British insurance carriers. According to LKI's mandatory 8K filing, the $32 million is on top of the approximately $28 million that Herrick obtained for LKI from insurers prior to commencement of the lawsuits, thus bringing the total recovery to more than $60 million for losses stemming from the theft of LKI's diamonds. The story names Chris Sullivan and Jason D'Angelo as counsel to LKI.
Media Mention

Too Early To Rule On Diamond Coverage Row, Judge Says
5.11.11 -- Law360
This story notes our representation of Lazare Kaplan International in an insurance coverage litigation, in which LKI is suing for coverage over the disappearance of $135 million worth of diamonds. Despite having directed LKI and the insurance carriers to file motions for summary judgment, a federal court judge denied those motions as premature, but the judge generally adopted our view of the case, which was brought by Christopher Sullivan and Jason D'Angelo.